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Budget 2021: 5 challenges that FM Nirmala Sitharaman needs to address
Finance Minister Nirmala Sitharaman faces a tough challenge as she gets ready to announce the Union Budget 2021. In this article, we discuss five key issues that need urgent attention.
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Finance Minister Nirmala Sitharaman. (Photo: Reuters)
Though the government has taken many steps to limit the economic impact of the pandemic, many challenges remain as India gradually recovers after entering a recession, following GDP contraction in two consecutive quarters. Some of these challenges need to be addressed by the finance minister in her upcoming budget presentation:
Demand
Even as the country witnesses gradual recovery in key economic indicators, the uncertainty prevailing over the current demand outlook has worried economists. Some experts have asked the government to come up with demand-boosting measures and fix the consumption slowdown that has crippled government revenue as well.
Younger workers and women were hit most by Covid-19 – and they’re still struggling to recover
For every 100 women employed in December 2019, 74 lost work during the lockdown and another 11 lost work subsequently, finds a survey. Representational image. | PTI
The Covid-19 pandemic has delivered a large and sustained
economic shock to the global economy. In India, the effect can be broadly divided into two phases – the shock of the
nationwide lockdown in the months of April and May 2020, and the subsequent evolution of the shock (through smaller
While several small surveys and
reports indicate that there were large employment and income losses, not only during the lockdown but
Poorer quality jobs add to people’s woes
From about 140 million employed in farm jobs in the March-June 2020 quarter, the number leapt to 158 million in the quarter ended 30 September 2020.
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For representational purpose
Recent data during the ongoing pandemic suggests that not only have jobs evaporated due to the economic freeze, people have also been forced to move to less productive and poorly paid alternatives. The sectoral break-up recently released by the Centre for Monitoring Indian Economy (CMIE) shows that while most segments of the economy suffered huge job losses, agriculture actually gained.
From about 140 million employed in farm jobs in the March-June 2020 quarter, the number leapt to 158 million in the quarter ended 30 September 2020. It declined marginally in the October-December quarter to 154 million, but it was still 3.5% higher than the comparative quarter of the previous year. On the other hand, in the services sector, empl
Rajasthan s unemployment index touches record high
By
Archana Sharma ( IANS) |
Published on
Wed, Jan 20 2021 18:27 IST |
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Unemployment.. Image Source: IANS News
Jaipur, Jan 20 : The unemployment index of Rajasthan, as per the Centre for Monitoring Indian Economy (CMIE) data, touched the highest ever rate of 28.2 per cent in January 2021, same as December 2020, which is four times higher than the country s average national unemployment rate of 7.3 per cent.
The desert state is placed second in the unemployment index behind Haryana at 32.5 per cent.
The national unemployment index touched its highest mark in April 2020 following the imposition of nationwide lockdown to check the spread of the coronavirus pandemic. However, in Rajasthan, the unemployment rate touched a peak of 28.2 per cent in December 2020, nearly 10 months after the imposition of lockdown.